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Chart Room: What Japan’s digital transformation means for markets
After years as relative laggards, Japanese companies are diving headfirst into DX, or digital transformation, and investors should take notice.
Chart Room: The crisis and opportunity in recycling single-use plastics
Production of single-use plastics is forecast to continue rising for the next decade-plus, and investment opportunities will depend greatly on recycling.
Chart Room: Stronger for longer for China’s renminbi?
Expectations for further renminbi appreciation have risen, but we think short-term gains could be capped from here.
Credit risk at China’s SOEs in focus amid Huarong saga
China’s bond and equity markets have been rattled by concerns that state-owned enterprises could face greater default risk.
Chart Room: China’s EV industry is charged for growth
The combination of falling battery costs and rising adoption rates means China's EV industry is charged for growth.
Chart Room: The rapid rise of digital payments in India
The technological transformation of India’s economy has accelerated in recent years, as can clearly be seen in the accelerating shift to digital transactions.
Chart Room: Why dividends make sense in an inflationary environment
History shows how dividend-focused investment strategies can provide sustainable income in a reflationary environment.
Chart Room: Equity volatility eases as Treasury yields rise
The VIX has fallen below a key technical level, suggesting a new wave of investor optimism.
Chart Room: EM outperformance could be sustained, if commodities are a guide
This week’s Chart Room shows the historical correlation of EM equities with commodities, which suggests that the breakout could be sustained.
Investors should tread carefully around warehouses
Investor interest in logistics property has jumped but the surge in demand has left some parts of the market looking mispriced.
Chart Room: Retail investors pile into the fastest growing stocks
Retail investors' market participation is extreme not only in volume, but also concentration.
Chart Room: A Goldilocks spot for inflation-linked bonds
We see a sweet spot in inflation-linked bonds with maturities ranging from 1 year to 10 years.
Four real estate trends to watch as economies reopen
After a tumultuous 2020, we believe there are four main themes that will determine real estate trends for this year and the decade to come.
Chart Room: Keep an eye on housing rents when tracking inflation
Some key considerations make us more constructive on US rents for the year ahead, particularly soaring home purchase prices.
What’s ahead for China’s markets in the Year of the Ox
Investors keen to see whether China’s bull market can keep charging ahead in the lunar Year of the Ox will be focused on recovery and monetary policy.
Chart Room: Emerging markets and the reopening trade
Emerging EMEA (Europe, Middle East and Africa) and Latin American stocks are particularly well positioned to reap the benefits of reopening.
Chart Room: Chinese stocks, playing catchup, finally retrace 2015 highs
But the rally in China’s main onshore index still lags its US and global counterparts.
Chart Room: Weakening dollar gives emerging markets a shot in the arm
Emerging markets may be helped further along by the weaker outlook for the US dollar.
Unlocking India’s structural opportunities: 10 charts
Reforms and new infrastructure paving the way for manufacturing investment and employment will be key to unlocking India’s next stage of development.
European high yield: The curious case of the defaults that didn’t happen
At the height of the March crash, defaults looked set to soar. The reality turned out to be very different.
Chart Room: The clear link between ESG and returns
How have stocks that scored high for Environmental, Social and Governance (ESG) factors held up amid the Covid-19 fallout?
Chart Room: Some sectors may be set for a margin squeeze
The latest reading from our monthly analyst survey shows which companies are struggling with inflationary pressure but also weaker pricing power.
Chart Room: Correlations boil and bubble 🎃 and may spell toil and trouble 🦇
In this follow-up special Halloween edition of Chart Room, we look at how correlations are casting a spell over markets.
Chart Room: Government debt climbs to spooky heights
In this special Halloween edition Chart Room (part 1 of 2), we look at the frightening levels of government debt around the world.
Chart Room: Why growth still has room to grow in China equities
The valuation premium for China growth stocks versus value stocks hit a new all-time high, lifted by the consumer, tech and healthcare sectors.
Chart room: European cyclicals vulnerable if manufacturing data moderates
Any moderation in the growth of new manufacturing orders could make cyclicals vulnerable to a de-rating.
Chart Room: Is disinflation lurking around the corner?
In a bullish signal, the bond market’s short-term expectations for US inflation are back near pre-crisis levels. But are investors being overly optimistic?
Chart Room: Why some tech valuations may be lower than you think
A closer look at longer-term valuations reveals some surprising trends in tech.
Chart Room: Emerging market currencies lag on inflation risks
EM countries are using some of the same monetary and fiscal measures as developed markets. But this could add to rising inflation and currency weakness.
Chart Room: China’s Covid rebound puts the ‘V’ in investment
Fixed asset investment (FAI) in China has recovered to its pre-Covid levels of growth, with infrastructure and property driving the nation’s broader economy.
Why India could be the next breeding ground for tech unicorns
The Silicon Valley giants are shifting their attention to India as the next big growth market.
Chart Room: Robots on the rise in a post-Covid world
We think factory automation will accelerate further in a post-Covid world, as machines don’t get sick and can work continuously excluding maintenance.
Chart Room: Asian equities diverge, creating opportunities
The difference in performance between equity markets in East Asia and South Asia (India, ASEAN nations) is the largest in nearly 15 years.
GEARs: China roars while the global economy snores
Our Gauges of Economic Activity in Real time (GEARs), a proxy for three-month annualised growth, improved this month but remain in extreme hibernation.
Chart room: Despite a recent rally, high yield bonds still look cheap
For US high yield, valuations look historically cheap on a relative basis - especially when compared to equities.
Chart Room: QE expectations vs. reality, market moves
Market expectations of future asset purchases by the Fed have an even greater influence than the purchases themselves.
Chart Room: Mobility data shows most economies are rebounding slowly
Economic activity is being determined by virus response rather than slower-moving traditional industrial cycles. We need to adjust our toolkits accordingly.
The end of the journey to the West: Chinese tech firms come home
The tides of global capital markets have turned for Chinese tech firms. Instead of US listings, they are starting to find greater China more compelling.
China again primes growth with infrastructure investment
With exports expected to slump and consumption still struggling to fully recover, China is turning to a familiar playbook - infrastructure spending.
Chart Room: What in the world is going on with gold?
The correlation between gold and equities has increased to an 18-month high, calling into question the metal’s usual benefit as a porfolio diversifier.
Oil tankers gush profits as global storage space overflows
Oil tankers are earning windfall profits - but how long can this situation last?
Chart Room: More policy easing supports China bonds
This week’s Chart Room shows how ample liquidity is helping China’s onshore bond markets navigate around global volatility.
A shelter from the storm, for now: China’s bond market set to open further
When global fixed income investors scrambled for cover last month, China’s onshore bond market was a rare haven with low volatility and no liquidity crunch.
Chart room: Beauty of big tech stocks is in the eye of the beholder
Our latest Chart Room takes a comparative look at the long run up in the Nasdaq 100 index.
Fidelity CIOs: Dispersion increases as demand effects filter through
Investors become more selective as demand shock hits oil price and other sectors.
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Delayed demand making its return to China’s property market
New home sales are recovering faster than expected in China. This has big implications for domestic demand and the macroeconomic outlook.
Strong underpinnings to Asia’s investment grade bond market
Asia’s investment grade bond market looks attractive as we continue working through the Covid-19 outbreak, and global coordinated stimulus take effect.
European IG: With volatility comes opportunity, but discipline is key
Recent price dislocations means the long run return potential of European investment grade bonds is positive, but prepare for continued volatility
As gold’s surge draws wider interest, miners shine too
Gold's lustre is also rubbing off on the companies that dig it up from the ground.
FLI: Consumer confidence holds up amid broad-based slowdown
For the first time in two years the Fidelity Leading Indicator cycle tracker signals both below-trend growth and deceleration.
Fidelity Leading Indicator signals slowing global growth as coronavirus impact looms
The economic impact of the novel coronavirus outbreak is only just beginning to be captured by the latest FLI reading.
China’s financial support targets second-order fallout from coronavirus
China’s healthcare workers have been struggling to contain the spread of coronavirus. Now, policymakers are grappling with the second-order financial effects.
Fidelity Leading Indicator: Still strong but approaching the limit
The Fidelity Leading Indicator's acceleration is circling back towards zero after a period of strong improvement.
Cool Heads: Romain Boscher and Marty Dropkin on earnings and consumer strength
Romain Boscher and Marty Dropkin discuss discuss the rebound in earnings and the divergence between manufacturing and consumer strength.
Volatility is a double-edged sword that investors can’t live without
A better understanding of volatility and its role in portfolios can help investors to position themselves for any turbulence ahead.
Despite macro challenges, pockets of resilience in Chinese corporate earnings
Some bright spots in recent earnings reports suggest interesting opportunities
Decades of loose policy have left us in uncharted territory
Driven by loose monetary and fiscal policies, leverage is enormous and market dislocations numerous - anything could happen from here.
Uncertainty is now at an attractive discount in the UK and elsewhere
Predictability has been at a premium in recent years, but we feel the discount now offered to take on uncertainty offers a long-run opportunity.
A Goldilocks moment for China’s monetary policy, but watch for more easing and bond index inclusion
Two events are driving the outlook for China fixed income- easing monetary conditions and the expected inclusion of Chinese bonds in benchmark indexes.
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